The US Treasury’s Financial Crimes Enforcement Network (FinCEN) has issued a final ruling imposing prohibition on the opening or maintaining of correspondent accounts for, or on behalf of, FBME Bank Ltd, the Central Bank of Cyprus (CBC) announced on Sunday. The CBC took over the operations of FBME in 2014 after the latter was named […]

On 9 December 2015 the CBC, decided to impose sanctions in the form of a fine on FBME Bank Ltd (Cyprus Branch) amounting to €1.200.000 for failure to comply with sections 58, 60(d), 61(1), 62(6), 64(1)(c), 64(2), 68C, and 68(1) of the Prevention and Suppression of Money Laundering Activities Law of 2007 to 2013, paragraphs […]